El-Hadji Diouf has signed for Bolton on a season-long loan deal from Liverpool, subject to a work permit being granted.
The 23-year-old Senegal international striker, who joined the Anfield club in a £10m (€15m) deal from French club Lens two years ago, will travel with the first-team squad for Saturday’s trip to Fulham but is unlikely to feature.
The two-time former African Footballer of the Year becomes Sam Allardyce’s eighth signing of the season.
Allardyce told his club's official website, www.bwfc.co.uk: "I believe that in signing El-Hadji Diouf we have recruited a player of real potential.
“If he is willing to work hard and is ready to adapt to our coaching principles he will have the ability to become a top player at the club.
“I firmly believe we can resurrect his career and give him the impetus to recapture the form that made him into one of the best footballers to come out of Africa in recent times.”